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Shan Hanes, the former CEO of Heartland Tri-State Bank in Kansas, has been sentenced to 293 months, equivalent to over 24 years, in prison for embezzling $47 million in a cryptocurrency fraud scheme. The fraudulent activities, which involved funneling funds into a 'pig butchering' crypto scam, ultimately led to the collapse of the Kansas-based bank. Hanes used wire transfers to move the embezzled funds into crypto wallets associated with the scam. The scheme resulted in significant financial losses and the eventual bankruptcy of the bank.
🚨CRYPTOCURRENCY ‘PIG BUTCHERING’ SCAM WRECKS KANSAS BANK—EX-CEO TO PRISON FOR 24 YEARS Former Heartland Tri-State Bank CEO Shan Hanes has been sentenced to over 24 years in prison for embezzling $47 million in a cryptocurrency scam, which lead to the bank’s collapse. Hanes,… https://t.co/9ta6MUgZiq
Cryptocurrency 'pig butchering' scam wrecks Kansas bank, sends ex-CEO to prison for 24 years https://t.co/UQ2zlaUbVE
The former CEO of Heartland Tri-State Bank was sentenced to over 24 years in prison for embezzling $47M in a fraudulent #crypto scheme. https://t.co/0tXOeHFyaA
